Cerebras prices IPO at $185, raising $5.55 billion in major AI listing
AI chipmaker Cerebras priced its initial public offering above the expected range, raising $5.55 billion at a valuation topping $40 billion. The deal signals continued investor appetite for AI infrastructure plays after a record stretch of mega-listings.
Cerebras Systems said it priced its Nasdaq listing at $185 a share, raising $5.55 billion. The price came in above the previously marketed range of $165 to $180, lifting the chipmaker's valuation past $40 billion.
The California-based company is pitching itself as an alternative to Nvidia, building what it describes as the world's largest AI chip. Its inference-focused hardware has drawn heavy demand from data-center operators expanding capacity for large language models.
The deal ranks among the biggest technology IPOs of 2026. Analysts said the strong reception could accelerate listings from other AI infrastructure firms before year-end, with several in the pipeline reportedly preparing roadshows.
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